Rich Responses
Someone emailed to tell me they had read my Richest People in America list on reddit which, by the way, is a work in progress. I am using Forbes release last week as the beginning of a project to find 400 of the REAL Richest People in America by September when they will release their 400 Richest Americans list. When I first thought about doing this, I must confess I had some conflicting thoughts. Questions popped into my mind like “Would people give credence to a list created by individual?” and “How do you quantity a list in a world that likes metrics?” Rather than over analyze each of those questions and wait until I had a established a very methodical process for finding RICH people, I decided to just do it and make it a work in progress. After all, finished is better than perfect. I felt that since no one (that I can see) is offering an alternative to Forbes list, it needed to be done. Also, how can one measure the impact giving has on the world? Who’s to say that dramatically changing the economic opportunities in one small village or town isn’t as important as a philanthropist who gives away millions? I knew there would be people who would think it was great and I am thankful for that. I also knew that there would be many who would be critical. But I also know this, if you do nothing, people will be critical. It’s human nature. All I am attempting is to use my voice both as a professional speaker and writer to call attention to all kinds of people and businesses who use their passion to make a difference. If people start thinking deeper about the issues and what it means to be rich, that is a start. I welcome the responses both supportive and challenging. It makes me think deeper too.
I took a few comments I saw on Reddit and posted below.
“I get it. They are rich in heart.”
“You are as rich as you choose to be. If you are happy with what you have and don’t need to take from others to maintain that state, then you are as rich as Bill Gates.”
“In the end, if there is an item that the really rich people have, it is time, not money. I’ve often felt sorry for the people I see running around with pinched faces on Bay Street in Toronto, they didn’t have time, nor will they have it ever less they suddenly reject everything that keeps them running around like that.”
“It’s funny that pirates were always going around searching for treasure, and they never realized that the real treasure was the fond memories they were creating.”
“Before actually clicking the link, I mocked the title as something that would have some sappy dog orphanage stories on it, but then when I actually saw what it was, I was shocked to see that it was just that! I am all for volunteering (I volunteer every week at the local food not bombs), but it doesn’t make you the richest person in America.”
“It’s nice to see something inspiring and heartwarming on reddit for a change.”
“Very inspiring stories… thank you for posting the link!”
“Do-gooders.
“Berkshire has said that it lost about $3.4 billion to hurricanes Katrina, Rita and Wilma during 2005. $3.4 billion. Of course, it didn’t really “lose” the money, but rather upheld it’s end of the deal that all insurance companies make. Adam Smith is alive and well–and I think that you’ll find many, not all, but many people with a charitable mindset are indulging in a form of self-therapy, or are enjoying cushy administrative sinecures (at large orgs, like the Red Cross), but without the pressures of the competitive world.”
To B or not to B a Billionaire
The Secret is out and no I am not taking about the popular movie that EVERYONE is talking about (and I promised to weigh in on as well!)
The secret I am talking about is no longer a secret: The names and highly personal information of those who are on Forbes billionaires list – 946 of them! According to Forbes, two-thirds of last year’s billionaires are richer but only 17% are poorer, including 32 who fell below the billion-dollar mark (I feel their pain). It’s also no secret that you can find out about everything you could possible want about the mega-wealthy.
If one had the time, interest and inclination, a billion hours could be spent reading about:
A Bad Billionaire Boy
The Best Billionaire Cars
Billionaires Bachelors
Billionaire Babes
Billionaire Blunders
Young Billionaires
Old Billionaires
Dead Billionaires
Billionaire Bill (Gates)
Billionaire (Warren) Buffett
Billionaire Bernard (Arnault )
Billionaire (Liliane) Bettencourt
Billionaire Bunk Beds
Billionaire Beanie Babies
Billionaire Big Bacon Burgers
Billionaire Beavis and Bu…
(Okay, I may a few of those up but not many).
Welcome to another addition of America’s fascination with money (and we are doing a great job of spreading the word to the world that people with money are to be worshipped). It’s all at the finger tips of Forbes readers and internet junkies who can further invade the life style of people who already live in glass houses. In my opinion, entirely too much emphasis is placed on material wealth and not enough on the wealth and richness that matters. Let’s add into the mix recent news stories about big bickering on American Idol, betting on Anna Nicole Smith’s baby’s biological parent, big buckets in basketball (college coaches salaries in Today’s USA today and Kobe Bryant’s loss of big bucks for bopping a guy) and finally the ongoing battles of bald, big baby, BVD-less, Britney Spears.
I have had ENOUGH! I think I am going to need about a Billion Barf Bags before bed.
But I just may bang more B’s berating big billionaires besides Buffet, Bill and the e-bay boy.
Beware …
Little MS Sunshine
I must confess, I haven’t yet seen Little Miss Sunshine. I do like the title however. A few years ago, I was the keynote speaker at a Northeast Florida MS Society meeting. It was a over cast day and deary day and I had a ton on my plate as a move from Florida to Tennessee was pending in a few days. At the conference, I met a lady named Cheryl Chatman. Since this week is MS Awareness Week, it seemed like a good time to introduce my friend Cheryl, who indeed is Little “MS” Sunshine.
Cheryl Chatman lived as much of a normal life as anyone could imagine until her world was rocked when in May 1990, at age twenty-five, she began to lose her eyesight. “My vision began to fade in and out and I told my husband I think there is something terribly wrong with me,” Chatman recalled. To make matters worse, she wasn’t even with her family when her problems began. With medical evaluations, her fears were confirmed. She was told that she had multiple sclerosis. Shortly after Cheryl found herself legally blind. She was at a loss. She felt hopeless and afraid of the future. Like so many, she experienced the questions: Why me? Why now? Why MS? After 10 days of 3000 mg/day intravenous steroid treatments, she lay helpless on a sofa. She recalls being surrounded by her small children and telling herself “Cheryl you were not given a death sentence, get up and live”. Her period of feeling sorry for herself was short. She took charge of her life.
Her husband Leonard Chatman says, “I’m seeing my wife transform, literally, into something much stronger and more dynamic than I could ever imagine.” She began researching MS and inspiring others with MS. She says, “I told them, ‘look I’ll volunteer, I’ll help, I want to do what I can to help other people’.” That lead her to speaking at MS events all over the country and finally to developing and leading a weekend retreat for couple on how to live with MS. Her husband says of her, “She is a personal champion, a personal advocate, and an ambassador nationwide for this disease.”
Two quotes that define Cheryl Chatman’s view of living with MS are “Yes I have MS, but MS doesn’t have me” and “You can’t be pitiful and powerful at the same time.” Cheryl chose to be powerful. Because she made that choose over feeling sorry for herself, more than 5000 couples and 15,000 people have attended the Art of Living With MS workshop she and her husband Len facilitate all over the country. She has been on the cover of MS magazine, on countless news programs and she’s written a great book entitled The Art of Living with MS; Six Secrets For Managing MS as A Team.
Among countless other awards, Cheryl has been awarded the Presidential Points of Light Award and The National Making A Difference Award, given to couples who have a great impact nationally. She and Len also recently received a $2.5 million grant from the federal government to continue their work around the country.
Cheryl doesn’t see her MS as a barrier. In fact, it’s quite the opposite. She believes that MS has been a blessing in many ways to her and her family. Her son has even spoken for a children’s program talking to youth whose parents live with MS. The entire family traveled to New York last week to be filmed for a segment on the Montel Williams show.
She might have just lived out her life in a “normal” way, raising her children, being a supportive and loving wife, and perhaps having a second career after her children left home. But destiny interviewed and her purpose and passion were revealed through adversity.
Cheryl’s hasn’t let MS slow her down one bit. She and her husband ride a tandem bike in the MS 150, a 150 mile bike ride in North Florida. “One day there will be a cure,” and she says to people that she speaks to, “If you all decide to give up, you better think of me because I’m not giving up.” She lives that motto too having run in The Gate River Run on the hottest day in race history. Twice she had prepared for the race but couldn’t finish. In 2002, running with her husband, Chatman, 40 at the time, finished the 9.3 mile race in 2 hours, 20 minutes … all 23,397 steps (her husband counted!).
Fabric of Life
Below is a video that needs to be shown to the world. It features Carol Schillios who I wrote about on this blog recently. Her Fabric of Life foundation just sent me a link on youtube.
A Big Chance
I did something kind of crazy this past Monday. I tried out for a new reality show called the Big Give. At the urging of a PR company who told me about the show, I drove to Nashville for my chance to be one of ten contestants who will be selected to travel through the U.S. completing tasks based around the community. It seemed like a perfect fit and a way to promote my Richest People in America project.
I arrived at the Sheraton Music City Hotel in Nashville at 6:30 am for a 9:00 am casting call. I thought there would be more people there but when I arrived, there were only ten people in line in front of me. The first person was a lady from Ohio who was a Mary Kay consultant. She had taken on the responsibility of passing out numbers to everyone and writing down all of our names. She was so organized we all thought she was part of the Harpo! Another lady I met was home maker from Utah who had also tried out for a Martha Steward show. Then there were two ladies from Mississippi and Rhonda Grote from Florida who has a business called Think Thoughtful that helps people and companies give creatively. I met a Pierre Leger from Indiana whose organization helps pay the mortgage for victims of natural disasters. I met a college professor, a surgeon from my home town of Jacksonville, a sales rep who said she was tired of the emphasis placed on earning the big bucks and wanted to get back to making a difference and of course, another professional speaker. One of the more interesting people I met was a 23 year old man from Nigeria who came to the U.S. to become a doctor. He and his father have a foundation that helps people get plastic surgery for free. He also wants to dispel the reputation that Nigeria has about internet scams (you probably read one this morning about a multi-millionaire who had millions he wants to transfer to you in the U.S.)
All these people had a same dream as I did – appearing on the show. Unfortunately, most left after a quick two minute interview, with a real reality – they, like me, weren’t going to be getting a call back.
I knew my chances were slim but I also knew that if I didn’t go, I had no chance at all.
Life regularly puts opportunities in our path. Many think, “It will never happen” so they don’t even try. Sometimes I am guilty of that thinking as well. While I’ll have to wait watch the show (like thousands of others who submitted an application or went to a casting call), I don’t have to wait for my opportunity to “pay if forward”. I’ll probably get that chance today. Perhaps, you will as well. That’s the true big give.
****
Today’s Triva: It’s the birthday of the late Dr. Suess. Eat some green eggs and ham to celebrate.
Oscar worthy
Yesterday, I talked with a lady who is super star. Her “performance” didn’t win an Oscar but in my book, she’s more than worthy. She doesn’t have a My Space account and isn’t featured on youtube. She hasn’t been on David Letterman, written a best selling book, or won a Nobel Peace prize. She is just one woman who believes that one person can make a difference.
Yesterday was a special day for Clara Kirk. It was the 20th anniversary that she opened the doors to Clara’s House, a home for homeless and battered woman and their children that she opened in 1987. In the twenty years since, over 10,000 women and children have been given shelter in Clara’s House, over 22,000 meals have been served, clothes, linens, and toiletries have been provided, and job training skills, substance abuse counseling, parenting classes, and health screenings have been provided to its residents.
Clara has been awarded the National Jefferson Award for lifetime achievement and was chosen as one of “America’s 25 Unsung Heroes” In 1998, President Bill Clinton invited Clara Kirk to the White House and presented her with the prestigious President’s Award in recognition of her life’s work.
In 1987, Clara Kirk stood before a boarded-up, ‘abandoned’ building with a group of friends. Inside six families resided living in conditions she described as “no better than those of a third world country.” Clara recalled, “This was my neighborhood and this is how these people had to live. This is how they have to survive.” The next day she called the Mayor’s office and described witnessing families living in a building that was filled with water, garbage, and rats. Then Mayor Washington suggested she open a shelter for victims of domestic violence and for homeless women and their children. With a building donated by Catholic charities, Clara eventually raised the money to open a sixty-nine bed facility staffed by twenty five employees (five of whom are former residents). Clara says there have been ups and downs, “Nobody knows what I have been through to keep this placing running. Sometimes it’s like being a mother when your children go astray. You stay awake and pray for their safety. I pray for this place. I don’t want my living to be in vain. I want to be able to help children help themselves.”
That’s work worth an award. I beleive she’ll get her “Oscar” and a trophy far greater than those received on Sunday night.
Giving – the key to living
Yesterday was my daughter Evelyn’s 6th birthday. She looked like a princess in a beautiful dress she had been given for her birthday Her hair was curled into ringlets and it made me smile all over when I pulled into the driveway and saw her waiting for me. I wanted others to have the inside smiles I had so quite spontaneously, I took her and her older sister to an area nursing home to read to the residents. It was a gift that gave everyone pleasure. The staff loved seeing my little girls, the residents were thrilled to have company, and I loved watching them make new friends. The best part was that both of them said they wanted to come back and read every week. They really had a wonderful time and made friends with two ladies who helped them with their reading.
While they were reading, I just happened to sit with a lady named Marion Stout. What I didn’t know was that Ms. Stout, age, 111, has the distinction of being the oldest living woman in Tennessee as well as being the 11th oldest person in the U.S. It absolutely made my day sitting and talking to this woman who was born in 1896. She was very alert and aside from her hearing, it was quite easy to communicate with her. I learned that she worked for Eastman, Dillon Brokerage House (which later became part of Paine Webber) and that she would get tips on buying stocks like Gemeral Motors, American Telegraph, and Bristol Meyers. Until recently, she read the Wall Street Journal every day and continued to purchase stocks. I felt like I was connecting with a piece of US history. I went to my trusted research advisor google and found that local writer Fred Brown had recently written about her in the Knoxville Sentinel In his article he quoted Ms. Stout “I eat right, take care of myself and stay positive.” Perhaps she could have been a motivational speaker.
I asked Ms. Stout what the secret was to living a long life and she told me three things:
1) Do everything in moderation
2) Do what is right
3) Give to others.
I think that is good advice for living a long life. There’s a lot more about her that I would like to learn and hope to on another visit soon.
Companies that Care
I just learned about a new organization called the Committee Encouraging Corporate Philanthropy. It’s kind of like the Oscars for companies that doing good works. Among their members are more than 130 CEOs and Chairpersons, including over 45 of the Fortune 100. One of the CECP founders is actor and philanthropist Paul Newman. I like their philosophy (below) so I wanted to give it some press today about giving back.
PHILOSOPHY – Giving back, when conceived and executed thoughtfully, creates a win-win scenario for business and the public. From eradicating disease and improving childhood literacy rates to boosting employee job skills, opening new markets, and heightening brand recognition – business and society both stand to benefit greatly if companies can demonstrate programmatic effectiveness, fiscal accountability, and good stewardship in their philanthropic contributions.
Each year, CECP gives out awards for Excellence in Corporate Philanthropy. Below is a summary of the awards given today. Go to the CECP website to see the full story.
Question: If you were a member of CECP, what organizations would you select as recipients? What organizations (both growing and established) would you nominate?
GlaxoSmithKline funds community-led initiatives throughout the world, investing in health and education programs and donating medicines to support humanitarian efforts. Through cash, product and in-kind donations totaling more than $650 million in 2005, GSK capitalizes on opportunities in which the company’s involvement and leadership can increase the scope or effectiveness of a program. GSK is a founding member of the Global Alliance to Eliminate Lymphatic Filariasis and has already treated over 100 million people, making significant strides to eliminate this crippling yet preventable disease.
Click here to learn more about GlaxoSmithKline’s philanthropy programs.
salesforce.com’s philanthropic vision is to have all corporations be catalysts for creating healthy communities. They not only practice this within the company, but also encourage other entrepreneurs and small to medium-sized businesses to develop and deploy philanthropic programs at their own companies. Salesforce.com’s mission is to use the resources of its people, technology and relationships to improve the communities in which they do business. Click here to learn more about the Salesforce.com Foundation.
NONPROFIT AWARD – The National Academy Foundation (NAF) sustains a network of career-themed college preparatory academies across the country. This impressive organization provides professional leadership and adult mentoring as part of daily school life, creating personalized learning environments through small, safe high schools in urban communities. Citigroup has been working with NAF for 25 years and assists 50,000 NAF students annually, promoting financial management skills and helping build a diverse, well-equipped workforce. Pearson works with NAF students and teachers to develop project-based learning, digital arts education, and 21st century skills, and helps NAF share the results of these efforts with NAF Academy members. Click here to learn more about National Academy Foundation.
NONPROFIT HONOREES – The Boys & Girls Clubs of America (BGCA) inspires and enables young people to realize their full potential as productive, responsible and caring citizens. It provides them with a safe place to learn and grow, as well as ongoing relationships with caring adult professionals. Schwab and BGCA together created a financial literacy program, “Money Matters: Make It Count.” Through fun, interactive activities on topics like using a checking account, managing debt, saving for college and the basics of investing, teens learn practical ways to save, spend, and invest the money they earn. Additionally, forty-four teens who excelled in the program have been awarded college scholarships by the Charles Schwab Foundation. Click here to learn more about the Boys & Girls Clubs of America.
Harlem Children’s Zone (HCZ) has developed a network of neighborhood-based programs that address the critical needs of children and their families, leading to the revitalization of their community. HCZ works with children from infancy through college to ensure their success. Their partnership with Lehman Brothers has involved not only financial support, but also thousands of volunteer hours in which employees run a competitive “Investment Camp” and provide intensive math tutoring to students. Many people in the field of education are actively observing HCZ’s program with the hope that it proves to be an effective model for education reform that can be applied to communities nationwide.
Click here to learn more about Harlem Children’s Zone.
SPECIAL RECOGNITION
Roshan and the Aga Khan Fund for Economic Development Network
CECP awards the Aga Khan Development Network/Roshan special recognition for its inspirational business model in which corporate profits are reinvested back into the communities in which the company operates. Roshan is the leading GSM cellular service provider in Afghanistan, with coverage in over 160 major cities and towns and over one million subscribers. The company’s objectives include investing in technology and tapping employees’ expertise to help those who are marginalized or disadvantaged, and bringing mobile technology to rural communities to stimulate modernization, growth and prosperity.
Who lives next door to you?
If you have been reading this blog, you know that I am not promoting living rich in monetary ways. Though giving of your time is the best way to become rich, having money can make it easier to make a BIG difference (Ask Bill Gates and Warren Buffett).
Several years ago, I read the book The Millionare Next Door. The premise of the book is the person who seems like a millionaire (the one in the big house, with the fancy
car, who has extravagant tastes) maybe (and probably is) in big debt. It’s the person you least expect who has the cash.
Linda Pulliam Weston writes a column on MSN which I occasionally read. Today she highlighted a few people who have just passed the $1 million mark. Since I LOVE under dog stories, here’s one about a lady (also named Linda) that intrigued me: Linda’s story sounds a lot like a country song. She dropped out of her East Texas high school at 16. She got married, divorced and then married again. She was 20 and five months pregnant when her husband was killed in a Christmas Eve auto accident. Seven weeks later, her father dropped dead of a heart attack.
Her mother moved in with her. After years of supporting her mother and son, Linda finally remarried, only to get divorced again after giving birth to another son. Eventually, her younger son decided to live with his father, and Linda ended up paying child support.
Then at 48, she developed a crippling case of lupus that forced her to quit work.
So how in the world did this woman become a millionaire?
Linda traces the start of her journey back to the dark days after her first son was born. The husband who died in the car wreck had failed to change the beneficiary on his life insurance, Linda said, and her in-laws kept the proceeds.
“I was broke, uneducated and had no medical insurance,” Linda remembered. “I owed the hospital and doctor for my son’s birth and owed for my husband’s funeral. My treatment by my in-laws made me furious, so I decided I’d show them!”
Linda started reading the classifieds in the Houston Chronicle and noticed a lot of ads offering high-paying positions for pipe designers, an engineering job in the oil and gas industry.
“I thought, ‘How complicated could that be? (A pipe is) a tube with a hole in it,’ ” Linda said. “I called a community college that was a hundred miles away and asked if they taught pipe design, and they said, ‘Sure, but late enrollment ends tomorrow.’ “Linda hustled to sign up and sold most of what she owned, including her television and stereo, to help pay for school. After graduating with her two-year degree, she moved her family to Houston and went to work in June 1978 for $4.95 an hour. Over the years, her pay rose to $40 an hour, or more than $80,000 a year — “not bad for an AA degree,” as she put it.
After working for several years, she was offered the opportunity to start investing in a 401(k), and she grabbed it. She initially split her money between a stock fund and a bond fund, but eventually shifted more into stocks to get a higher return.
“I knew if I ever had a hope of retiring, I’d have to be aggressive in my investments,” Linda said. “Through bull and bear markets, I’ve stayed almost 100% in stocks all this time. I’ve kept it diversified among U.S. and international and a small amount in emerging markets. I am just now beginning to move some assets into less-volatile holdings, but still have about 75% in stock funds.”
She made another smart decision: buying long-term-disability insurance through her employer. That policy now pays her $60,000 a year, about two-thirds of the salary she was making when her disability forced her to quit work in 2000.
Four years ago, she remarried. She convinced her husband, who had no retirement savings, to start contributing to his 401(k), but the bulk of their current wealth came from the years when she was making $60,000 or less and supporting her children and mother.
“All in all, I can’t believe I’ve managed to accumulate as much as I have,” Linda said. “If I can do this working from the hole I started out in, anyone can. All it takes is discipline.”
Growing up my father always paid cash for cars (which means we drove cars for a long time). I guess I am following in his footsteps as our family car, a 1995 Volvo wagon, has 125,000 miles on it. Dad never had credit cards that I could remember and he was very disciplined in saving for retirement. I am thankful he instilled in me the importance of saving and the power of compound interest(you do some fun calculations on this web site created by Fidelity Investments). My wish that I can be as disciplined as my father was so that when I am his age, I will be able to give away lots of money and time to causes I care about.
Living Rich 